k Trim Size: 6in x 9in Bankruption Index.tex V1 - 10/11/2016 2:31 P.M. Page 273 Index k Page references followed by f indicate an illustrated figure; followed by t k indicate a table. A Aging community banking ABA, 146 institutions, problems, 116 Accountholders, 125, 129 Airbnb, 212 happiness, 100 Airbnb, usage, 133 problems, 261–262 AirPlay, usage, 132 Account onboarding, 121 Alexa, 260 Account satisfaction (UK), 54f Alternative lending companies, ACI Worldwide, 226 partnering, 187–188 Alternative payment providers, 216 Action, call, 119 Amazon Business, 133 Adams, Robert, 41 Amazon era, 216 Adult InternetCOPYRIGHTED users, share (US), Amazon MATERIAL Web Services, 121 142f AML, 158 Affectiva API, 254 increase, 210 Affiliation, sense, 250 regulations, 233 Agile methodology, application, Analytics, 203, 224 209 Ant Financial, 63, 263, 136 Agile thinking, usage, 96–97 Ant Financial Cloud, 64 Agility, 224 Anti-innovation reflexes, 198 273 k k Trim Size: 6in x 9in Bankruption Index.tex V1 - 10/11/2016 2:31 P.M. Page 274 274 INDEX AOL Instant Messenger, 179 creation, 23f Apathy, impact, 84 issuance, 14f Apple, 20, 66, 187, 192, 212, 255 issuance (US), 35f Watch app, 61 Bankers Apple App Store, 187 customer business, 195 ApplePay, 66, 70 underwriting, 196–197 Application programming interface Banking (API), 263 app satisfaction (UK), 55f banking, reality, 125 charters, creation frequency discussion, 232 (reduction), 22 initiatives, 119–120 customer satisfaction Applications (apps) overestimation, 222f app-banking, approval ratings, digital engagement, 218f 56 evolution, 229–230 discussions, 150–151 executives, enlightenment, Artificial intelligence, 160 80–81 Assets focus groups, usage, 138 liability management, 121 human inertia, startup size, basis, 8f overestimation, 130 Association of Financial ideas, 85 Technology (AFT), 65 impact, 106 k Atom Bank, 60 importance, 221 k Audience feedback, 113 industry Automated compliance services, perceived threats, 216f 133 problems, 221 Automated teller machines information, 146 (ATMs), 189 organizations, leveraging, 227 depository, 153 perspective, 260–261 fees, 139, 252 priorities, 215f screens, 135 products, shopping, 143 surcharge fees, 252f regulation, 20–21 technology, impact, 82–83 revolution, 230–231 usage, 36, 83 strengths, 225f Average overdraft fee (US), 139f tweens/teens, 162–164 AWS cloud storage, 132–133 unbundling, 248 updating, 197–200 B weaknesses self-assessment, Bank branches 226f gross closings, 33f world, normal world (contrast), gross openings, 34f 5, 98–99 number, 28f, 87f Banking Optimization System Bank charters (BOS), 263 consolidation, FDIC reasons, interpretation, 265 16–23 transformation, 264 k k Trim Size: 6in x 9in Bankruption Index.tex V1 - 10/11/2016 2:31 P.M. Page 275 Index 275 Bank Innovation blog, 238 Belief, falsehood, 3 Bank Innovation INV, 238 Benefits outsourcing, 133 Bank of Ann Arbor, 179 Best-of-breed offerings, obtaining, Bank of England, competition 120–121 stance, 52 Best practices, 78 Bank of Scotland, 52 benefits, 228 “Bank of the Future,” 214 impact, 85 Bankruption “open the book,” 88 Fintech adoption, relationship, Best talent, hiring, 132–133 128f Beyond the Arc, Inc., 234 future, 93 Big Data, 103 overview, 1 Bitcoin, 192 Banks Blachford, Dale, 109 algorithms, 211 Blankfein, Lloyd, 134 credit union acquisitions, Blockbuster, 134 17–18 Blogging, usage, 251 employees BoA, 202 numbers, 89f Board reporting, 127 salaries/benefits, 89f Boomers, perspective, 151–154 engagement, barriers, 219f BOS. See Banking Optimization failures, 16, 19–21 System k rates, 20f k Botha, Roelof, 93 future, delivery, 218–221 Bottom-up approach, 206–207 insolvencies. See United States. locations, increase, 136 Bouvier, Pascal, 161 problem list, 69f Brain drain, 24, 102, 104 repositioning, option, 221 Brain gain, 104 role, 221 Braintree, 210 weakness, 225 Branch banking, realities, Bank Systems & Technology, 186 27–37 Bank Technology News, 186 Branch density Barclays, 52 impact, 30–37 Basel III capital standards, 22 strength, 32 Basel requirements, 53 Branches Basic banking services, 211 branch-based competition, BBVA, 82 prohibition, 77 BBVA API Market, 246 convenience importance (UK), BECU 58f youth savings, 174–176 conversion, 183 Youth Savings Landing Page, customers, digital channel 175f usage, 57–58 Behavioral data, impact, 190 death, attack/prognostication, Belco Community Credit Union, 87 113 distribution strategy, 57 k k Trim Size: 6in x 9in Bankruption Index.tex V1 - 10/11/2016 2:31 P.M. Page 276 276 INDEX Branches (continued) C family friendly branches, Capital 251–252 holding, 53 new branches, building, 37 requirements, 53 numbers, legislation (impact), Capital One, 203 28–30 Card rewards, leverage, 255 strategy, reevaluation, 101 CASS. See Current Account streamlining, 255 Switching Service value, 112 Castilla, Jill, 26, 104–106, Branching 176–181 examination, 94–106 Causation, correlation (contrast), inefficiency, 37 81–83 Brand advocacy, creation, 236 CBW Bank, 158, 188, 232 Brand awareness, financial services, impact, 233 144f CC Catalyst, 238 Branding, 193 CEB, 194, 195 Brand name, 140 Centennials, 114 Brand power, 137–138 CenterState Banks, 30 Brand scale, 141 Centralization, importance, Brand value, 138f 181–182 ranking, 145f CEO age (action call), 119 k Bratspies, Steve, 98 CFPB. See Consumer Financial k Breaking Banks, 95, 209 Protection Bureau podcast, 81 Challenger banks Breeding, impact, 191–192 capital, holding, 53 Brexit, 60 creation, 52–53 Bricks and mortar access points, customers (UK), 55f focus, 25 examination, 59–61 Bricks and mortar museums, growth, 50–61 323 return on equity, 59f Bruene, Jim, 58, 161–176 universal banks, contrast, 53–59 Buffer, impact, 126 Change agents, organizational role, Bugs, elimination, 183 208 Businesses Change, purpose (impact), actions, cessation, 133 104–106 credit sources, 10f Channel usage (UK), frequency, intelligence, 127 57f tools, 203 Channel usage (US), frequency, 32f owners, time (limitation), 111 Charters, 16 retiree initiation, 154f consolidation, 23–27 strategies (enabling), data intracompany consolidation, 16 (usage), 236 Chasm crossing, 130 Byrider, J.D., 144 Cheap labor, 88 k k Trim Size: 6in x 9in Bankruption Index.tex V1 - 10/11/2016 2:31 P.M. Page 277 Index 277 Check-cashing services, 210 Community banks, 189 CheckFree, 67 assets, 19f China level, 208 banks, appearance, 61–64 attention, 176–181 community bankers, 62–63 closure, 22 loan opportunities, 62 acquisition, 17 mobile banking transactions, 63f definitions, 21–22 P2P lenders, 62 failures, facts, 22 state-controlled banks, impact, Federal Reserve System 61 definition, 9 China Banking Regulatory number (depopulating towns), Commission, 62–63 25f Citi FinTech, 86 operation, 197 Citizens Bank of Edmond, 104, running, 140 176 rural branches, 26 mind-set, 177 self-acquisition, 18f Uniform Bank Performance strategy, change, 240–241 Report, 106 see also Financial institutions Citizen’s Bank of Weir, 232 (FIs) Clicks-and-mortar retailers, 96–97 Community-based banking investment, requirement, 97–98 institutions, catering, 7 k Closed community banks, Community financial institutions k acquisitions, 17 digital capabilities, requirement, Code, human trust, 264 158 Commercial Banking and Retail omnichannel adaptation, 100 Banking Leadership Council, opportunity, 75 194 problems, 93 Commercial loans, 234 younger audience attraction, Commodity business, 246 102 Communities see also Financial institutions community-focused financial (FIs) institutions, 240 Community institutions defining, 9, 112 consumer relationships, financial institutions, relinquishment, 264 phenomena, 201–202 employee numbers, 90 Community bankers, risk aversion, growth, process, 229 179 innovation, absence, 203 Community banking interaction/resource sharing, defining, 7–13 264 future, absence, 1–6 network, 263 model, threat, 136 thriving, 2 physical proximity, reliance, 2–3 see also Financial institutions problems, 7 (FIs) k k Trim Size: 6in x 9in Bankruption Index.tex V1 - 10/11/2016 2:31 P.M. Page 278 278 INDEX Companies, single-point solution Correlation, causation (contrast), sale, 118 81–83 Compensation, importance, 183 Coupon-matching, 97 Competition Cox, Heather, 86 action call, 119 Coxon, Hal, 101, 181–186 usefulness, 177 CRE, 27 Compliance, 83 Credit card companies, 66, 216 finalization, 114 Credit sources, 10f management system, 199–200 Credit Union National Association Computer-aided automation, (CUNA), 146, 147, 192 impact, 65 Credit unions, 66, 189 Computer-system banks, 65 assets (US), 12f Concierge, impact, 185 associations, information, 146 Consolidation, 193 competitive advantage, 244 Consumer Bankers Association, financial assets, growth, 12 205 locations, increase, 136 Consumer Financial Protection noncommunity bank, contrast, Bureau (CFPB), 22, 110–111, 21, 44 131, 192, 241 operation, 197 role, 221 consumer interaction oversight, running, 140 81 k strategy, change, 240–241 k Consumers see also Financial institutions change agent role, 71–72 (FIs) consumer-facing technologies, Credit Union Service usage, 85 Organizations (CUSO), 67, 71 consumer-friendly payment Crosman, Penny, 186–188 mechanisms, 203 Cross-generational work, ease experience perception gap, (startup overestimation), 131 221–223 Crowdfunding, 68 needs, pace (keeping), 192 C-suite, 182 product experience, 141–143 Culture danger, caution, relationships, relinquishments, 116–117 264 Current accounts, switchers (UK), switching costs, 130 56f trust, increase, 142 Current Account Switching Conversion